What Is Junk Silver? Tips To Buy It
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- Опубліковано 16 вер 2024
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If you own it and i'm trying to buy it, it is junk silver. After i buy it from you, it is 90% constitutional sweetness!! ✌
lol Good point!!
SalivateMetal what you have is not junk silver. Junk silver is average circulated. You have standing liberties in VG to fine condition. That is called semi numismatic. Meaning it sold on condition and details of the coin not weight. You clearly on not very educated on the difference between semi numismatic coins and just junk silver. Junk silver is no more than cull condition hence the reason why they call it junk. I would love to buy some of those coins off of you because I know I would get some nice ass coins for low premium considering you think all junk silver is measured by weight. Smh 🤦♂️
I don't like the term either. That "junk silver" looks better than regular bullion rounds and bars. You can't beat the history behind constitutional silver!!!!
Very true!
Junk silver would have worked during your Great Grandma's time.
House Resolution states minted US coins to be used must have .999 purity.
Junk silver just became obsolete as for usage as coinage.
If the Junk dime is .999 it might be still usable in a currency crash.
@@billrundell2097 Nah.
Bill
I had a professor years ago that worked for the federal reserve. He said he audited a bank once and was surprised that some of the equity wasn’t fiat dollars, but actual silver coins. Junk silver and gold that’s legal tender is still great because I’m sure they revalued that over the years based on the metals content not the $20 face value of a gold coin etc.
Junk silver is my favorite. I just love filling crown royal bags and playing with my silver haha
“Crown royal bags” lol
I hope you are making good use of the CR.
The other week I stopped at the bank asked for halves. They only had two rolls, or $20 dollars worth. But, one roll had four 1964 Kennedy's! I was ecstatic!
NICE!!!
I honestly think that foreign junk Silver is some of the most underrated Silver out there. It makes up most of my stack, and that's because I get the stuff at or even under melt.
It's great. I have some as well. Just hard to liquidate
Perfect eh !
Regarding 9:09 slick or badly worn coins, these have lost surface detail and weight through abrasion. This wear increases the more a coin has been circulated. However in olden days, profiteers used to gather a bunch of silver coins into a container and shake them vigorously in order to deliberately abrade them. Then they would gather the silver dust collected at the bottom of the container and melt it down as bullion. Similarly “sweating” was another process which used acid to dissolve some of the surface of silver coins. Then the silver leached into solution was chemically precipitated out and melted down as bullion. Then the degraded silver coins would be passed along to unsuspecting recipients at the coins' face value.
Thanks for the information.
That’s actually interesting to know
Pretty interesting. Reaffirms silvers true historic value as well.
I've never hear of it referred to as spending silver, but it is a good term. I have always loved the term constitutional silver tying it to the constitution. It is hands down my favorite type of silver to stack, I pick up $10 in face each week. It is part of my stacking goals for the year.
Awsome my friend. A great goal to add that much each week.
Great to see you again old friend. Sure miss you a bunch now.
I don't care if it's called junk silver or constitutional silver as long as I can buy it for a good price.
Same here Andre.
Same here 👍
Amen!
I love junk silver, Constitutional, or 90%. My recommendation would be a varying mix of denominations. This provides future flexibility should SHTF happen. Do yourself a favor and stack plenty of dimes and quarters. Barbers were considered ugly and not collected. That's why they were slick. They were workhorses of commerce during the Industrial Revolution. Nice video, Sal!
Constitutional silver is my favorite form of silver. It is perfect for stacking on a budget. A one ounce silver round usually carries a larger premium. As a kid I didn’t have much money to buy larger quantities of silver, so looking for the best value I started cherry picking boxes is 90 % at LCS. Today I have several complete sets of Constitutional silver coins. After building relationships with the store, quite often the would sell me used Dansco albums really cheap. Of course I had to buy the key dates at higher prices. Fifty years later I have built lots of priceless memories and relationships with lots of people. So when i see that kid setting over a box of 90%, I think of the hours of legal , social skills building, and basic budgeting skills being developed in what could be a problem child. No it’s not JUNK.
I really needed to see your video. No one talks about the loss of silver in wear when you buy it. Thank you for clearing that up, you saved me a lot of money in the future.
Thank you for taking the time to watch.
@@SalivateMetal - I found a dealer on line who sells junk by weight not face. Thanks again.
Hey Sal, excellent informational video packed with great facts and solid guidance, loved it!
Thank you so much sir!
I love Constitutional silver. I buy only online to date, but on the drive home from work I saw a new coin shop open, so I'll have to report back to you on that.
Very nice. Fun to check out new coin shops!
Awesome. I hope you find some good values there.
@ERIK When you do please let us know what they charge. My only LCS wants $12.50 x face, at the time that was about 11-12% premium. Interested to know where other stand regardless of where you live.
@@eddieslittlestack7919 sure thing
Junk silver would have worked during your Great Grandma's time.
House Resolution states minted US coins to be used must have .999 purity.
Junk silver just became obsolete as for usage as coinage.
If the Junk dime is .999 it might be still usable in a currency crash.
The #1 reason I started to stack was because of constitution silver. The Morgan dollar, and Mercury dime both perked my interest. Love me some Junk Silver!
Regarding 6:30, that "junk silver quarter" is not a quarter at all. Instead it is a 1982-S Commemorative Washington Proof 90% Silver Half Dollar. Their original regular issue price was $10. Since their mintage is so huge @ 4,894,044, their current melt value is $5.82.
Yes, I misspoke there. Meant to say half.
I found a silver dime yesterday at the grocery store coinstar machine. Highlight of my day; lol. I think I was more excited finding that little dime than I was finding $200 cash on the casino floor one time. Funny the magic gold and silver has. Goes to show you it's real value vs this paper and plastic stuff we carry around :-)
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@@SalivateMetal I'M putting down the likes From years ago. VIDEOS
At this very moment 👍
Good job! I didn’t hear much about 40% coins or did I miss it?
I am very impressed by your junk stack! Keep up the good work!
I covered it briefly when talking about the war nickels. I stay away from them.
Me too. They offer them for less than spot around here.
Great 101 type overview, always new people learning and coming onboard! Well done.
Great point about trying not to buy Constitutional silver sight unseen! I understand some people may have no choice, but I`m lucky enough to have an LCS that sells for the same price or even on occasion Lower than the Big Boys! Just love cherry picking them, once got a 42s B.U. silver quarter! And you are correct regarding them weighing them, when they purchase them, I've seen our local coin dealer do it many times! Keep up the Great work Sal!:))))
Thanks PTP. So glad you ave a resource there.
Always a wealth of information. Thanks Sal!
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Good video Sal. I'm a big fan of Constitutional silver and always aim for the AU/BU specimens. Nothing like a nice roll of frosty Kennedys or Franklins.
MétéoMan Hey MM...how much of a premium are you willing to pay for the AU/BU variety? It seems most people want a nice premium for those types. Thanks!!!
@@TalkingBullion Since I volunteer at a coin shop, I am privileged to get the coins very close to spot.
Indeed! Thank you!
@@meteoman7958 Wow what a great idea MM...maybe I should volunteer 😀
i think a great tip is to make friends with your LCS. those guys always give great deals.
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As always, good info Sal. Thanks. Another tip when buying constitutional silver, is bring a strong magnet to check the Morgans and Peace dollars. I see a few fakes mixed in the culls bin sometimes.
My favorites have got to be:
Quarters = Standing Liberty
Dimes = Mercury
Halves = Walking Liberty followed
You can buy these in circulated pretty much at spot price. If you pay a little premium you can get the AUs
Where or which website do you buy them?
I agree Sal "Junk Silver" means salvaged silver to me! Any old bent up silverware or odd ball messed up trinkets... even the gold and silver found in on mother boards in appliances . I hesitate to even call a slick coin junk.
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Love those PILES of Wealth...it's a No brainer to pick this stuff up as the budget allows...Thanks for sharing Sal
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The big money buys certified kilo bars - low premium over spot. We need to examine this .
I can`t believe those standing liberty quarters are junk status they are beautiful with nice even wear with a lot of details left. Love your videos sir
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Beautiful stack 👍 I just received a 21 Morgan + a 23 Peace dollar to add to my tiny stack... I also completed my 2nd set of The Four Horsemen. Daughter thinks it's for her , lol. Ever growing with a little help from a friend. Thanks Sir Salivate' !
Awesome additions sir! Thank you.
I believe constitutional silver will prove a VERY useful barter tool when SHTF.
Narmer Man I agree NM!!!
I think theres a small chance of high premiums before hand as well depending on how much time we have. Its easy to view them as surplus now, but not after the last one is bought or melted down.
A generic 1/10th ounce silver buffalo round is currently selling for $3.44 if you pay with credit card... thats $34.40 per ounce.
Now just imagine if the world ran out of constitutional silver and now there was a premium attached to dimes, quarters, and half dollars similar to generic fractional rounds... potentially, junk silver could be selling for close to double spot... Collectable, historic, government backed, and fractional.
Never underestimate the masses... "tulip mania" is a prime example of this.
Im not betting on this. Just a fun thought.
To buy or not to buy? That is the question. I like the Valcambi .999 pure silver cards that can be purchased in various denominations and weights and easily broken into smaller units. No fuss... pure silver. The small premium over Constitutional Silver will easily be displaced by not having to waste your time sorting bickering over values, etc. After all, time is money too.
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I like dimes!
Mercury Dimes.....😁
Cool video, my friend!! Nice examples from your collection. I’ve been harvesting “junk” from bank rolls and am enjoying the ride. You’re right about cherry picking the best examples when the opportunity is there. I’m happy to find silver in rolls. I like the variety of what I find ...and getting them at face value is sweet. Thanks for the show
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Junk silver is nice to collect but I would still prefer the bullion or semi - bullion coins. You are getting more silver for your dollar with staying strictly with bullion or semi - bullion coins. The designs on old US coins are cool I must say, better than some of the designs today in some respects. My favourite is the Walking Liberty design on the A,erica Silver Eagle.
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GREAT INFORMATIVE ADVICE SAL !! Big help 👌👌👌
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I'm with you, don't like the junk silver title and should be called Constitutional silver. Good video.
But we don't have a constitution!
@@CyberCurtainTwitcher I think we should all pool our silver and gold and buy an Island lol.
Thank you sir.
3 years old and still relevant, intelligent information.
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thank you sir for an enjoyable bit of informaton, i have just startd coin hunting / collecting, but i don't think i will be on the purchasing end for any of the junk silver, my interest lies in securing my future through sound investmens, procurring such junk through hours of hunting coin roll after con roll, and putting any finds that turn out valuable on the market, in order to upgrade my current collection of fine silver and gold, that's not to say i won't regard the information as sound.
I’m a 90% junkie Sal. Great video BUT I find AU/BU 1964 coins as much as 1.5% over and under design weight. Other than putting them on a scale you would never know. Not sure how a LCS would respond if I showed up to cherry pick with a scale.
Awesome my friend!! Well done sir
I like giving my local coin shop business for constitutional silver. Just started stacking in May, one of my goals is $50 face value constitutional, with 100 oz total silver.
Congrats in your stacking journey. Great goals!!
@@SalivateMetal I do have a weird question, does purchasing gold or silver from a specific nation help or hurt them? Fiat currency is basically a ticking time bomb so trading that for gold or silver seems it would be detrimental to whoever you buy it from.
Great video Sal...love the junk | constitutional | 90% silver!!!
Thanks my friend.
Thanks for all the useful information Sal! I've been picking up some flawed proof quarters on the cheap.
I buy war nickels at spot or under.
also they have more silver per face value than the 90% stuff
Junk silver is a term born from the coin slabbing companies shifting focus to their product.
Before the self proclaimed experts found a way to profit from coin collectors, every date and mint mark had a value assigned based upon condition, mintage, and how easy or hard it was to find/get. The alleged experts' slabs looked nice and so caught the mob's eye. The hobby was ruined when the focus, over the years, then shifted "upward" so that (with the exception of key coins), almost all coins not in beautiful condition are now valued as junk silver. Its a horrible shame really b/c there are some low mintage (aka scarce) coins out there that get melted all b/c of the artificial market of slabbed coins.
The sad part is that if you slab a coin, break it out, and send it in again for a slab )even to the same company and without altering the coin in any way), it is NOT guaranteed the same grade! Do the homework - this is fact.
Beofore these snake oil salesmen, it was always special to get an S or an O mint mark b/c these mints were famous for making less coinage per year. Hence the coins actually are less in numbers, hence not as easy to get as a P or D. But now theyse more scarce coins are valued the same as a common date/MM and are simply junk silver (if not a key date). The coins are not valued for what they are - they are valued for what they are not - market driven (or almost) perfect specimens in a piece of plastic.
*Very nicely done, Sal! Quite informative and detailed; thanks for fulfilling my request!*
Thanks so much for watching.
What do you think about Morgans? It’s 90% silver, but unlike other 90% silver the premium are so high. Even higher than ASE.
I talk about that briefly in this video. Sometimes you can find deals on common date Morgans in relatively decent condition.
Thanks I'm off to the Antique mall. Home of Junk Silver
Excellent video my friend, you know,alot of people(aside from collectors/stackers) dont know the older coins.When I buy constitutional silver,I stick with Washington quarters,Eisenhower dimes,64 Kennedys,they're the most recognizable
Excellent point. I assume you meant Roosevelts.
@@SalivateMetal oops😄
Stimmy went towards all Washington's. The bag was niiiiiiiiiice.
Rounds are not constitutional silver. Silver Eagles are known PLANET wide.
Rounds can not be used as coinage or in place of currency.
Retail store are not required to accept rounds as payment.
This is why Silver Eagles are your best choice of silver when you need to barter or use where only a currency is accepted..
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It's easy to see in a plastic tube like what you have your halfs in
Have been stacking Morgans lately. I prefer gold, but when i go into my LCS during my slow season, I stick to modern sovereign minted silver or Morgans !
Great video Sal! I have a very good LCS he charges me $12.70/FV and lets me cherry pick through his stock which has been plentiful when I go see him.😀 thanks for bringing us some more brilliant content👍🇺🇸
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I bought a 1878 CC Morgan dollar on ebay but i had never heard of slicks before this video and now that i look at it again its pretty worn out must be why i got for a cheap price thanks Sal for all the info!!!
Make sure its real. Weigh it.
Thanks my friend. Be careful buying rarer coins on eBay though.
When I think of old American silver coins, I think Americana and that it is undervalued considering it’s antique and that type of coinage will never be minted again. It’s going to get scarce as time goes by due to melting.
And people hoarding it.
I call it circulated silver as I come from Canada and the early coinage was sterling at 92.5%. It was later reduced to 80% in part to keep the coinage from wearing into "slicks". I also collect circulated silver from other countries as government mints have mandated amounts of silver in their coins. Some like Mexico, Panama and Venezuela have the weights in grams and purity engraved right on the coinage.
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Great video! I would like to suggest you do a video, or series, on weights and percentages (and when those percentages changed historically) on various coins from many of the more common world mints such as the U.S.A., Canada, the U.K., Mexico, etc.
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I have never seen the state quarters in silver. You have been holding out on us!😱 I have a couple of the Washington anniversary half dollar. Gave one to a friend, got him started. Thanks Sal for sharing. Ps. Really enjoy my beat up Barber coins. Though they are light, I like to imagine all the places they have been.
Awesome. Thank you sir!
Fantastic video Sal! It was greatly enjoyed indeed. I love 90% for the historical aspects as well as the more romanticized aspects. It's awesome to hold a coin thats 100 years old or more.
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Maestro i love this channel from Morocco
Thank you!
Excellent Report. I learned a lot Sal. I missed this one and I just found it. Thanks. Out.
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Nice refresher on 90 percent silver coins. I just ordered some AU peace dollars on Apmex and hope for some nice ones. Never know right? I live nowhere near an LCS so nuff said. peace out
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i ended up weighing 10 silver quarter slicks against less worn silver and even though it appeared that a half thickness quarter difference was present side by side i found the difference was just 1.5 grams. about .75 cents at 15.00 spot silver if the the coin was pure silver. fugly looking yes but really a non issue IMO.
It's less of an issue in smaller quantities.
Sal- Thanks for the info and this was a very easy video to follow.... Keep it up and keep on stacking! US
Thank you so much my friend.
Great video. Thanks for all your helpful insights!
Thank you Eric
And my debate on pay day.....order roll of Franklins online and save a little over $0.50 per coin....or go to the LCS and pay a 14% premium. Other LCS does 15%. I like to pick through the 90% bins, I haven't bought 90% coins online before, but I'd rather go to the LCS and buy what I can see BEFORE my fiat currency is turned over.
Settled on the LCS...calculated out less than I expected so was a great buy today. More 90%.
I never buy the proof sets just because when you say Junk or Constitutional Silver, those coins don't come to mind for anyone. You'll have to convince people that those are Silver. I also stay away from the older slicks. So I never purchase Barber anything because it's nearly impossible to find a Barber for anything near spot that would not qualify as a slick. I will buy good condition Mercury Dimes, but those are the oldest coins I'll purchase. Typically, staying with the half-dollars, dimes, Washington Quarters, and good condition Peace / Morgan Dollars that you can get for decent prices is the best bet. But again, finding good condition coins for a cheap enough price is always the trick. Generally, those are easiest to find in the half-dollars, Washington quarters, and Roosevelt dimes. Apart from good condition Mercs and Silver dollars....I wouldn't purchase anything else that might technically qualify as 90%.
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Great share Sal! I don’t buy constitutional silver, but I keep it when I find it. Maybe this sounds dumb, but I love the slicked up coins. I think it adds character. As I said tho, it’s not part of my stack. Maybe I will add some in the future 👍
That's cool. Yes, sometimes holding the slicks gives you a sense of commerce and history. I understand.
This info never ages. i thought i was watching a vid that was posted on 25/09/22. (unless you are watching in the future)...
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Great video Sal! I wanna say this might of been the first Constitutional Silver video I've seen on your channel?
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Excellent video, I love Constitutional silver, especially when you find it in your change!
That's the most awesome thing. Never happens to me though.
I work in a casino i always order an extra $100 in change everyday. I went through $180 in quarters today. Didn't find anything but i look daily 😂
i have a beautiful collection Kennedy half dollars 33 of them i have one that is 1968D silver beautiful condition
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silver kennedy halves 40% at spot over the weekend at provident. I will update and maybe post a vid. bought 22 to meet shipping. Though i do agree buying at coin shops after ending up with so many fugly slicks quarters. Last time i snooped at a coin store the fool tried to charge me tax. Not taxable in Texas... tried to play it off when i called him out.
I really liked those proof quarters you showed. Just worth the silver but still very beautiful. 👍
Thanks my friend.
I think I would get some coinage silver, my term for "junk" silver. I like the history of our coinage regardless of the metal content. The only time I would get i constitutional is if it was Washington quarters, Rosevelt dimes, and Kennedy halves as the older coins I consider numismatic.
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Has anyone ever sold junk silver at a place which weighed them to determine their price? Every coin shop or pawn shop I've seen will go by the face falue.
Mine will if there are slicks or in big bags.
The most beautiful American silver
I agree "Junk silver" isn't the best name... by that accord Eagles are "Junk gold"
Lol nice. Good point
Maybe the question might be asked is should you buy constitutional silver? Spending silver? Another good question. Would old money with silver content be accepted for future purchasing payments?
Yes and possibly:)
I have 460 ounces junk silver I thought of melting it down to make jewelry out of it
Don't BUY it, Dig it!
And yes, finding enough so paid off my machine after 6mths....everything I find from here on out is profit or going in my stack :)
P.s. prefer 'constitutional' - because they were/are still backed/recognized by Gov mints.
Awesome work. I have found two dimes, one nickel with my Excalibur 11. Mostly rings, and some old gold. First two machines paid for themselves. ID 300, actually found a gold nugget!. Beaches in East coast Florida are tough. So many retired guys combing them.
Wow, nice score being able to find so much constitutional silver buried.
@@SalivateMetal Thanks Sal :) It still amazes me aswell, found some great stuff lately, hope you get time to check out my latest vids. Loving your channel & content, thanks for keeping it fun :)
I buy it anyway I can obtain it.
I've been buying 1962 cameo quarters. are they worth buying? please let me know. thanks
I like the term constitutional 90% silver
Me too. Thanks Lisa!! Good to see you
The altherythm is working!
Thank you for watching my friend
No such thing as silver being junk in my eyes. Love constitutional silver coins. I would say is the best silver to stack hands down. Can be purchased very close to spot and is well recognized coins. Plus the government already guarantees that it is 90% pure in silver. No guessing in its purity. Great way to stack.
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I think before long, we will be back on gold and silver.
White Space Marines We are & We will however the whole world's banking system or creation of capital is capital generated by debt; sovereign, corporate is the majority of the capital created by debt, and of course us, the citizens, the loans and bonds with interest attached. As far as the USA, we all should remember that in historical times bonds with interest were called BONDAGE! I'm afraid of things going haywire and the unexpected result that our property and title to property will be taxed with inflationary sums, making the populace who don't own gold and silver in sufficient quantities as well as good land or properties on fixed interest rate mortgages will be in for a losing ride....
@@carwebcolivecom reading this in 2021
@@Bigmarc1104 thanks for reading this; i had long forgotten i wrote that with Silver Sal... i'm a Series 6 & 63 Diversified Risk Corporate Capital consultant in 2002 lol, though now i am a hard asset stacker developing property from dividends with capital well invested...
I love the new intro, wish it were a little longer.
Thank you!
Thanks bud , appreciate the info! U explained that very well.
Thank you sir.
People need to understand that silver dollars may be 90% silver but are not a full troy ounce of silver. Why would anybody pay more for a silver dollar than what a ASE goes for? You can not use the collector value B.S. Except for a few key dates, millions upon millions of silver dollars were produced. STOP PAYING OVERPRICED PREMIUMS FOR SILVER DOLLARS!!!!!!!
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Silver coinage of .999 purity now Legal Tender.
Bill in Texas 2097 and 10 other stated have adopted this law.
Payment with Precious Metal must be .999 coinage.
Send in jour junk silver for remelt into .999 purity coinage.
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Something about the liberty headband people pay for that band
Lowest minted is a win even in good shape condition by redbook
Great video my friend. I don’t like the word junk either, but I dig constitutional silver
Thank you sir!!
I'm holding my junk 👍
I only stack American 90% percent constitutional junk silver-lol. Not into bars, eagles, generic rounds, bullion, pandas, maple leafs, or anything gold. Also, not into 90% proof sets new or old , high grade coins. I prefer being able to not wear gloves and run my hands and fingers through the nice historic worn coins. However I hate nasty or "cull" coins.
Time traveling w/ Sal 🍻🇺🇸
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One mans JUNK is another mans Treasure
Key dates exist and yes they hold a bit more value just like premium silver 90 percent is first come first serve 1932 quarters pds and 1955 p franklin bugs bunny rolls bro barber looks like good condition in redbook key dates exist in good condition that sell for more than spot Morgan rolls inherited not my fault I forgot I owned em
I've heard all the terms. The term that I have heard the most over the last 60 years is "junk silver" and I have no problem with that. When the term originated, we were still on the silver standard and no disrespected was intended to anyone or anything. As you stated, it is called "junk" because it has no numismatic value. Since the term also applies to foreign silver coins, I prefer "junk" instead of "Constitutional." But I won't get upset with your term if you don't mind mine, as long as we know what each other is talking about. In this day and age, when people "pass away" instead of "die," and many other euphemisms and renames are used, I'm too old to change my lexicon.
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